Currently, there are 6 Homegrown Hong Kong-listed companies, including SMIC International, BeiGene, Novartis Oncology, etc. 3 Many red-chip companies listed on the Hong Kong and Shanghai stock exchanges, as well as China Resources Microelectronics Corporation, Gecko Microelectronics Corporation, and No. 9 Company 3 A red-chip company listed only on the Sci-tech Innovation Board. With the largest IPO listing Huahong Company has started subscription. After its listing, Huahong Company will become the first company on the STAR Market 7 Only red-chip stocks, also the number 4 Only red-chip stocks that have been listed overseas. Red-chip repurchase A The path is maturing, and the institutional system is continuously improving. Especially after the full registration-based IPO system was implemented, the clear application criteria for red-chip enterprises listed on the Sci-tech Innovation Board were replicated and applied to the main board. Red-chip enterprises that meet the policy criteria for innovation pilots can apply Market value + Income "standard".   What role has the large amount of funds raised by the Sci-tech Innovation Board played in the development of sci-tech innovation enterprises, especially leading enterprises worth hundreds of billions? Why have red-chip companies flocked to list on the Sci-tech Innovation Board? As red-chip companies return A Will the improvement of the system and its integration with the entire market trigger a rebound? A Hype? Frost & Sullivan Frost & Sullivan Jia Pang, Partner and Managing Director of Frost & Sullivan Greater China, was interviewed by Securities Daily to discuss the above topics.   * Click "Read the Original Article" at the end of this text to read the full report.   Securities Daily Q Securities Daily Reporter: How has the large amount of funds raised through the Sci-Tech Innovation Board (STAR Market) contributed to the development of science and technology innovation enterprises, especially those leading enterprises with hundreds of billions in revenue?   The Sci-Tech Innovation Board has raised a large amount of funds, providing sufficient financial support for the development of sci-tech innovation enterprises and improving their financial conditions. The characteristics of companies listed on the Sci-Tech Innovation Board are advanced technology, belonging to strategic emerging industries strongly supported by the state, which can promote scientific and technological innovation and industrial development towards intelligence and efficiency, with rapid growth in business scale. Some companies face situations such as small asset size and short establishment time, making it difficult for them to raise funds through bank loans or other means. Therefore, for sci-tech innovation enterprises, raising funds through listing is a method with lower costs, higher feasibility, and a larger amount of supplementary capital. The use of raised funds is mostly for strategic investments by enterprises, such as expanding new business segments, investing in research and development to improve technology, digital networking construction, capacity expansion, etc. For leading enterprises with hundreds of billions in assets, a large amount of capital is also needed to support the company's development, thereby consolidating and enhancing its market position, accelerating technological research and product iteration, and exploring the possibilities of new businesses. By utilizing raised funds, enterprises can quickly expand their scale, enhance the competitiveness and market share of products and services, and achieve better development. Secondly, from a financial perspective, after listing and raising funds, shareholders' equity usually increases, and the enterprise does not need to increase additional debt, thus improving the company's asset-liability ratio.   Q Securities Daily Reporter: Why are red-chip companies flocking to the Sci-tech Innovation Board for listing (or what is the attraction of the Sci-tech Innovation Board for red-chip companies)? As red-chip companies return A Will the improvement of the system and its integration with the entire market trigger a rebound? A Booming?   （ 1 Firstly, most of the businesses of red-chip companies are carried out domestically. Red-chip companies return A It can make the communication channels between the domestic capital market and enterprises in their industries smoother. It facilitates investors to become more familiar with enterprises, understand their business models and operating environments, deepen domestic investors' understanding and recognition of enterprises, help enterprises establish brand images, and at the same time, the Sci-tech Innovation Board provides more reasonable valuations and liquidity for enterprises. Secondly, regarding red-chip back A In comparison to the main board, the Sci-tech Innovation Board (STAR Market) has institutional advantages. The STAR Market is an important part of the multi-level capital market, mainly established to encourage enterprises with high-tech capabilities. It has more lenient requirements for the asset scale, revenue scale, profitability, equity structure, and corporate governance organizational structure of companies applying for listing compared to the main board. （ 2 ) 2018 Before the year, companies listed on domestic stock exchanges had to be joint-stock limited companies registered in China. Therefore, red-chip enterprises must first dismantle their red-chip structures before they can return A Listed financing in the stock market. In order to establish a multi-level and open and inclusive capital market, enhance the influence and initiative of enterprises, and further attract enterprises to return A The General Office of the State Council forwards the China Securities Regulatory Commission's 'Several Opinions on Carrying out Pilot Programs for Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises' ('Pilot Opinions') and the 'Announcement on Arrangements for the Listing of Innovative Pilot Red-chip Enterprises on Domestic Markets' [2020]24 number)“(“ 24 Announcement on the Issuance of Convertible Corporate Bonds (No. 20230600), allowing eligible enterprises to retain their red-chip structure for domestic financing. 2023 year 2 month 1 On the same day, the Central Committee of the Communist Party of China and the State Council approved the 'Overall Implementation Plan for the Full Implementation of the Stock Issuance Registration System'. Subsequently, the China Securities Regulatory Commission issued drafts of fourteen regulatory documents, including the 'Administrative Measures for the Registration of Initial Public Offerings of Stocks (Draft for Soliciting Opinions)', and made them public for public comment; each exchange also simultaneously issued corresponding supporting regulatory documents. This means that after the implementation of the STAR Market 4 After more than a year of pilot implementation, the full implementation of the reform of the stock issuance registration-based system was officially launched. After the full implementation of the registration-based system reform, for red-chip enterprises that are already listed overseas and those that are not A The main board, science and technology innovation board, and growth enterprise market provide multiple sets of listing standards for listings. With the return of red-chip enterprises A With a sound system, given the higher liquidity of the domestic capital market, the wide range of investors, and more convenient communication channels, the return of red-chip enterprises will become an inevitable trend. * This interview was published in Securities Daily.   Reporter: Xing Meng    Original title:    Huarong Company has started subscription yesterday The Sci-tech Innovation Board reaches hundreds of billions IPO listing will increase 8 an    >>    .   2023 Frost & Sullivan's New Investment Conference  

Judging from the disclosed financial reports, due to price wars, the performance of the entire wind power industry chain is not very optimistic. What is the reason why companies would rather incur losses than lower prices? Is this round of price wars almost coming to an end? How should it be viewed? 3 , 4 Is the wind power tendering season sluggish in the month? Given the overall irrational industrial environment in China at present, it is difficult for enterprises to make profits. Which links in the industrial chain are more likely to seek incremental growth overseas? Frost & Sullivan Frost & Sullivan Xu Biao, Executive Director of Frost & Sullivan Greater China, was interviewed by CBN to discuss the development of the wind power industry.   * Click "Read the Original Article" at the end of this text to read the full report. Caixin Q At the beginning of the year, institutions predicted that this year's offshore wind would be a sector with good prosperity in the new energy industry chain. The market sentiment in the secondary market is highly anticipated. In the second half of the year, is it possible to expect an offshore wind market boom? 2023 The year marks the first year of high installation capacity in the next three years for offshore wind, and it is considered a major delivery year for the industry. Considering that the third quarter is only entering the traditional peak season for offshore wind, many offshore wind construction projects started construction later in the second quarter, resulting in slight delays or partial deliveries, which were postponed until the third quarter. As domestic offshore wind gradually enters the delivery window period, we expect that domestic wind power production and delivery will start in earnest in the third quarter. Offshore wind construction may enter a peak of intensive deliveries, with a high degree of certainty in growth. Q Judging from the disclosed financial reports, due to price wars, the performance of the entire wind power industry chain is not very promising. Whether it's the complete machines or components, what do you think is the reason why companies would rather incur losses than lower prices? Has this round of price wars almost come to an end? Firstly, looking at the current competitive landscape of domestic wind turbine manufacturers, although the 3 Large manufacturers in accordance with 2022 The hoisting capacity in the year accounted for more than 50% The market share is also very competitive with other major manufacturers, and there are still significant variables in the market pattern. Secondly, since the downstream market for wind turbines in China is mainly domestically, the current capacity of the domestic wind turbine market has not been fully utilized. The main downstream customers of wind turbines are large developers represented by the five major and six minor players. Currently, when these large developers conduct bidding, price weight still accounts for a relatively large proportion, which to some extent forces wind turbine companies to engage in 'price wars'. The above are the main reasons for the price war in the Chinese wind turbine market. Judging from the performance of listed wind power equipment companies in the first quarter of this year, the revenue and profits of most companies have seen a significant year-on-year decline, especially 5 Large fan listed companies, total revenue and attributable The net profit of the parent company decreased year-on-year. 37.4% and 60.2% Judging from the recent tender prices for wind power projects, the winning bid prices for onshore projects have been basically stable, while those for offshore projects have fluctuated. Therefore, we believe that major enterprises in various industrial chains will learn from the negative impacts of 'price wars' on industry development during China's past wind power industry development and take proactive actions to end the price wars. Q What's your opinion on it? 3 , 4 Is the wind power tendering in the month sluggish? Is downstream demand weak now? Please discuss in detail, taking into account local wind power plans and large-scale wind and solar bases. Incomplete statistics, 2023 year 1 - 4 In the month, the wind power tendered capacity reached 27.6 GW (excluding framework bidding), a year-on-year decrease 7.4% The bidding rhythm has slowed down. However, looking at the overall winning bid situation, 2023 year 1 - 4 In mid-month, the winning bid capacity of wind turbines increased by approximately 45% This indicates that the overall demand is still quite strong. In addition to the State Council 2022 year 12 The Outline of the Strategic Plan for Expanding Domestic Demand ( 2022 - 2035 In the 'Year of Promoting Green Development' (2021), it was clearly stated that it is necessary to significantly increase the utilization level of clean energy, build multi-energy complementary clean energy bases, and accelerate the construction of large-scale wind and photovoltaic bases with desert, Gobi, and barren areas as key priorities.   Provinces and cities have recently introduced proactive policies to promote the development of the wind power industry. For example, the 'Fujian Province Action Plan for Promoting Green Economic Development ( 2022 one 2025 In the '14th Five-Year Plan' (2021-2025), it is proposed to accelerate the development of offshore wind power, focusing on promoting project construction in regions such as Fuzhou, Ningde, Pingtan, Tanzhou, and Putian. The demonstration development of the southern Fujian offshore wind power base should be steadily advanced, with an increase in installed capacity during the '14th Five-Year Plan' period. 400 10,000 kilowatts; Guangdong Province issued the 'Guangdong Province 2023 "Work Plan for Competitive Allocation of Offshore Wind Power Projects in 2023", the document indicates that there are a total of 15 one, installation 700 10,000 kilowatts; The "Henan Province Carbon Peak Implementation Plan" proposes to accelerate the development and utilization of wind energy resources, plan and construct a number of high-quality wind power bases with a capacity of one million kilowatts, by 2025 In the year, the cumulative grid-connected capacity of wind power reached 2,700 Above 10,000 kilowatts. Q In China, the current industrial environment is generally irrational, making it difficult for enterprises to make profits. Which links in the industrial chain are more likely to seek incremental growth overseas?   In order to reach a broader market space and improve corporate profitability, enterprises in various links of the domestic wind power industry chain are actively seeking overseas expansion to acquire incremental markets. This includes wind power development companies represented by CGN, several large wind turbine manufacturers, as well as leading manufacturers in the fields of blades, towers, and offshore cables. In comparison, due to the relatively simple manufacturing and transportation processes, and the ability to support the localization of wind power manufacturing in some European and American countries to a certain extent, manufacturers of blades, towers, and offshore cables may be more likely to gain incremental market share overseas. * This interview is published in Caixin.   Reporter: Liu Chang    Original title:    The wind power market has not materialized as expected When will the industrial chain reach an inflection point?    >>    . 2023 Frost & Sullivan's New Investment Conference

NIXT China Summit   In the past few years, there have been tremendous breakthroughs in the technology sector. Emerging technologies such as artificial intelligence, metaverse, 5G, blockchain, Internet of Things, AR/VR have brought new opportunities and momentum, and the wave of digital transformation is spreading across all industries. Using emerging technologies has become a development key point that every enterprise must consider and prioritize. How can enterprises quickly grasp emerging technologies to drive their own business digital transformation? How can they explore markets through emerging technologies and establish new business models?   From July 19th to 21st, 2023, the NIXT China Summit was successfully held at the National Convention Center in Beijing. The conference focused deeply on emerging technologies, connecting all stakeholders in enterprise digital transformation, and conducted exchanges and discussions on six vertical industries: artificial intelligence, smart cities, finance, advanced manufacturing, logistics, and retail, providing assistance for industry and enterprise digital transformation.   Frost & Sullivan (Frost & Sullivan, abbreviated as "Frost & Sullivan") was invited to attend the conference. According to the "China Data Element Market Development Report (2021-2022)" by the China Industry and Information Security Administration, enterprises that achieve digitization can maintain a 41.2% increase in business growth, a 42.8% increase in production efficiency, and a 15.3% reduction in product research and development cycles. With the acceleration of the wheels of the digital economy era, the gap between leading and lagging digital enterprises will continue to widen. Enterprise digital transformation is inevitable, not an option. Digitization is an important lever to help traditional enterprises transform into new forms and an inevitable choice to support the strategic development of companies. Enterprises should leverage digital technology to build unique competitiveness and disrupt existing markets with new products and services. The development of information and communication technology and industrial technology has continuously promoted the continuous growth and expansion of China's digital economy. China is experiencing a new wave of digital transformation. Currently, developing the digital economy has been elevated to the level of national strategy, with the State Council and the Ministry of Industry and Information Technology successively introducing favorable policies to promote enterprise digital transformation, such as the "14th Five-Year Plan" which clearly states the goal of "creating new advantages in the digital economy." At the same time, Enterprises are also achieving digital transformation by continuously increasing IT investment. In 2022, Chinese enterprises' IT expenditure reached $345.53 billion, and it is expected to continue growing steadily in the future, with China's IT expenditure expected to reach $460.64 billion by 2027.   In addition, with the continuous decline in birth rates combined with an increase in average life expectancy, China has entered a moderately aging society. The increasing aging rate and the gradual decrease in the proportion of working-age population have led to an increase in labor costs in China's manufacturing industry. As a tool to reduce the demand for the number of workers during production and improve quality and efficiency, the demand for digital transformation technology will increase accordingly. It is expected that in the future, as China's aging problem deepens further, the proportion of working-age population in China will continue to show a downward trend.   Digital technology has penetrated into all aspects of social and economic life, and the new economy will become an important support point for economic growth. In the face of the wave of digital economic development, it is necessary for China to seize development opportunities, drive the transformation of traditional industries, promote high-quality economic development, build a new development pattern, and achieve the rise of a great nation.   According to Frost & Sullivan research, looking at the current digital transformation status of major industries in China, the service industry currently has the highest penetration rate of digitization. Since the tertiary industry has always been a key area of digital transformation, its level of digitization and speed of digital transformation rank first among the three major industries, far higher than the digitization process of agriculture and industry. In the future, the pace of digitization in agriculture and industry will accelerate. With the maturity of 5G infrastructure, combined with the integration of new infrastructure such as industrial Internet, Internet of Things, and cloud computing from pilot construction to integrated applications, digital technology will penetrate deep into the tertiary industry, while accelerating its penetration into the secondary and primary industries, with development dividends expected to radiate into sub-sectors such as smart factories, smart energy, and smart agriculture.   However, it should be noted that although the current digital transformation penetration rate in China has been comprehensively improved, there is still a dilemma of high failure rates, making successful digital transformation for Chinese enterprises a long and arduous journey. The main problems at this stage are manifested in the lack of systematic and holistic awareness of digital transformation among enterprises, the lack of a systematic transformation framework that prevents them from implementing digital strategies, and the lack of effective measurement mechanisms.   Enterprises' digital transformation mainly includes the construction of digital cultural organizations and digital technology platforms. Successful digital enterprises rely on a complete strategy, through more agile business processes, interconnected platforms, analysis tools, and collaboration capabilities to improve production efficiency, thereby achieving a more lean and agile operational model.   For example, digital procurement is an important means to help enterprises reduce costs and increase efficiency, and accumulate core data assets. Compared with traditional offline procurement, the platform-based procurement model has prominent advantages, as it can present procurement information in a data form, reducing procurement costs and featuring high efficiency and transparency; digital supply chains can integrate and optimize enterprise supply chains, covering multiple links from suppliers to end-users, including raw material procurement, production, warehousing, logistics, sales, etc. By improving upstream and downstream supply chain relationships and integrating and optimizing information flow, logistics, capital flow, etc. in the supply chain, enterprises can enhance their competitive advantage. In summary, enterprise digital transformation is not only a trend but also an inevitable choice for enterprises to improve competitiveness and development. Digital transformation will lead enterprises into the future.

Data shows, this year 618 During this period, the transaction scale of the beauty and skincare market in comprehensive e-commerce slightly decreased year-on-year 2.3% ; Live e-commerce has witnessed rapid growth, especially on Douyin 618 The transaction volume of beauty products during this period exceeded 156 Yuan, a year-on-year increase 69% Specifically, on the comprehensive e-commerce platform, Perlane has maintained a Tmall ranking for two consecutive years 618 beauty and skin care Top 5 , rose to the number 4 Name, overwhelming OLAY Traditional leading brands; Vichy remains at the top this year 10 Name location.   2022 In [year], on the Taobao and Tmall platforms alone, eight major domestic brands achieved a scale breakthrough 10 Yuan, emerging brand Zhibenhe HBN (YoY growth exceeds 80% ) are among them.   In the domestic beauty market, in addition to leading brands holding their ground, emerging domestic brands are gradually developing and growing, participating in competition with first-tier brands at home and abroad.   Frost & Sullivan Frost & Sullivan Wu Yunhan, a consumer industry analyst at Frost & Sullivan in Greater China (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Bullet Finance to discuss the development of emerging domestic beauty brands.   * Click "Read the Original Article" at the end of the text to read the full report. Bullet Finance Q In the past two years, in addition to leading domestic beauty brands, many new entrants have also achieved explosive growth. For example, Zhiben. HBN such as Grain Rain, 2022 The annual transaction volume of Tmall beauty products is at 10 For brands worth over 100 million yuan, apart from KuaDi under Huaxi Biology, there are also Zhiben. HBN The year-on-year growth rate is expected to be at 60% , 80% Above. This year 618 , HBN Gu Yu has entered the Douyin skincare category Top 20 The list includes brands with transaction volumes exceeding those of big names such as Jiao Yun Shi and Kie Yan Shi. How do emerging domestic brands view their rapid rise? What factors have contributed to these brands achieving faster growth rates than leading brands? Does the rise of emerging brands have reference value for the development of the domestic beauty market?   The rise of domestic brands is, on the one hand, due to the market opportunities unleashed by trillion-dollar beauty products in China. On the other hand, through 20 After years of refining and accumulation in the foundational layer, domestic beauty products have evolved from ensuring product safety to emphasizing efficacy. At the same time, the changing consumption concepts of new-generation consumers have also broadened the imagination space for domestic beauty products. Growth drivers: 1 The intergenerational migration of consumer groups is the underlying logic behind the rise of domestic brands and beauty products. As Z As the era enters the beauty consumption market, its personalization and confidence in local brands are also driving a reshaping of the beauty industry landscape. Consumers are increasingly pursuing high quality and cost-effective products when facing Chinese brands. This has inspired domestic brands to establish their own sense of quality in product research and development and promotion, continuously enhancing their reputation to win more consumer favor. 2 In the mature market of beauty and skincare, there are many existing market participants with high competition. Domestic brands have made certain upgrades and transformations to traditional brands through new consumer group selection, new market positioning, product innovation, new scenarios, and new communication channels. For example, 'Perfect Diary' has made intensive marketing investments on new media channels, accumulating a large number of high-quality user reviews and brand word-of-mouth in terms of creative design, placement management, post- on data feedback, or refined platform operations. 3 In mature consumer categories with high market demand and fierce competition, domestic brands choose to avoid competition within broad categories and instead enter into niche segments. At the same time, these niche segments lack strong brands, providing certain development space for emerging brands. Brands wait until the niche segments mature before expanding into other categories to build brand awareness. For example, domestic beauty brands such as Poreless, Vichy, and Huarun Biotech follow the strategy of international big brands with large product lines, gradually driving up sales, average order value, and brand recognition through core products. The most typical examples are Poreless' Ruby series and Vichy's Special Care Cream. The rise of emerging brands holds certain reference value for the development of domestic beauty and skincare markets: 1 Looking at the entire market, z Generations are becoming the main force in consumption, and brand operation capabilities are particularly important. Among them, the domestic beauty brand "Zhuben," which focuses on the makeup remover market, has caught up with the favorable trend of live e-commerce in terms of omnichannel operation capabilities. It became popular on Li Jiaqi's live streaming channel. They also seized the opportunity of optimizing the e-commerce distribution system and penetrated into 100 Multiple stores have completed the deployment of their distribution system, and at the same time, brand accounts on other short video platform channels have been established and are being fully rolled out across all channels. 2 Another current trend is the rise of the functional skincare market, HFP As the first skincare brand in China to focus on the concept of original extracts (single high-concentration skincare ingredient essences), it has quickly gained the favor of ingredient enthusiasts. With the continuous growth in consumers' demand for professional efficacy and the catalysis brought about by channel development, we believe that functional skincare is expected to continue to be an important driving force for the overall high growth of domestic cosmetics in the future. 3 In recent years, domestic beauty brands have also been expanding their brand footprint through investments, acquisitions, and other means. As domestic beauty brands develop to a certain stage, they are also planning to enter the high-end market and establish a multi-brand development strategy. Brands like 'Perfect Diary', which are familiar to many, are examples of this. 2021 In 2019, it acquired a skincare brand targeting the high-end market Eve Lom The average unit price is mostly around four or five hundred to a thousand yuan. Q 2022 Since [start year], the beauty market has been overall declining. The market recovery this year has also fallen short of expectations. Online traffic has peaked, and competition in the efficacy skincare sector has become increasingly fierce. In this context, for emerging domestic beauty brands, is there still an opportunity to catch up with first-tier brands? What problems exist? Are there any brands that are more promising? In recent years, emerging beauty brands have ridden on the wave of traffic dividends and, with the support of various capitals, used new thinking and marketing strategies to re-run major professional sub-sectors across new channels and media, making rapid progress. However, as capital gradually leaves, traffic dividends disappear, competition intensifies, and traffic costs become increasingly high. Emerging brands have not yet built a strong product moat and their brand effect has not yet materialized, posing significant challenges at this time. To become a brand, the top priority for emerging beauty brands is to create a unique, solid, and stable product moat. Currently, the entire new and emerging domestic beauty industry still lacks in terms of product strength, research and development, and core technologies. Although powerful cosmetic brands can acquire other brands and factories by purchasing them, it is difficult to simply invest money in acquiring core technologies, as the root cause lies in the scarcity of industry R&D talent. New brands aiming to build a moat and develop exclusive core technologies should 'trace back upstream' and innovate with new raw materials and technologies. Recently, I've been paying attention to the skincare brand "Runbailan" under Huaxi Biotech. This year 618 "Acceleration" has been achieved. According to data released by brands and major platforms, this year 618 During this period, we achieved over 3.56 Yuan billion, an increase compared with the same period last year 54 % thanks to Huaxi Biology 20 With years of research and development in hyaluronic acid, "Runbailian" has always endowed the product with unique competitive advantages, achieving trend-setting leadership in the hyaluronic acid market through innovation and differentiation 10 In the year, we adhered to the market strategy of developing major products, laying the foundation for the emerging market of sublimated essence and bringing more possibilities to future development. * This interview was published in Bullet Finance   Reporter: Hu Fangjie    Original title:    beauty 10 Yi Club, two new members have arrived    >>     .   2023 Frost & Sullivan's New Investment Conference

I IBI EXPO 2023 Biological innovative drugs have become a battleground for the biopharmaceutical industry. In the 'post-pandemic era' when domestic companies continue to invest in innovative drug research and development, differentiated development, indication selection, combination therapy, external cooperation, etc., have increasingly become important ways to enhance the competitiveness of companies in new drug research and development. They are also the main path for domestic pharmaceutical companies to go global and engage in competitive globalization. In addition, a complete and mature supply chain is indispensable for industry development. How to select the most suitable raw materials, consumables, and equipment throughout the entire life cycle of new drug research and development has always been a challenge for companies. In today's world where global supply chains are still fragile, CDMO The domestic substitution of supply chains has become a new perspective for many companies in the industry to focus on for achievement transformation. To further promote the development of China's biopharmaceutical industry, assist startups in transforming their technological achievements, and deeply understand the global trends in the development of the biopharmaceutical industry, organized by the Shanghai Biopharmaceutical Industry Promotion Center and MedMakers Media IBI EXPO 2023 The International Bio-Innovative Drugs Industry Conference is held at 7 month 13 - 15 The day witnessed the grand opening of the Shanghai Cross-border Procurement Exhibition Center.   current session IBI EXPO Set proximity 10,000 meters   2   Exhibition scale, concentration 100+ Well-known brand manufacturer in the supply chain pharmaceutical industry; by 200+ authority PI Led by industry leaders, passionately crafted 18+ The thematic forum comprehensively covers the current industry's hot topics and cutting-edge developments. A multitude of guests, including government representatives, corporate executives, renowned industry experts, and investors, gather together to participate in the industry's grand event and seek common development for the industry. Swipe left and right to view photos of the scene Frost & Sullivan Frost & Sullivan As the strategic partner of this year's conference, Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, attended the conference, participated in the Second Rare Disease Drug Development Forum and China Biotech company IPO listing Special forum on 2022 - 2023 Biotechnology Market Investment and Financing Analysis' speech was delivered, followed by participation in a roundtable forum, where experts from various industries discussed the current state and development opportunities of the Hong Kong capital market with each other. Partner and Managing Director of Frost & Sullivan Greater China Region fattening Overall   Biomedical market   Investment and financing situation   The number and amount of investment and financing events in China's primary market are as follows: 2021 year, 2020 Peaks are reached annually, followed by a decline. 2022 year, 2023 H1 Biopharmaceutical industry financing Top 5 The amounts all exceed 5 Yi billion yuan, mainly for protein drugs. Looking at sub-sectors, the total financing amount for monoclonal antibody drugs closely follows that of small molecules. New therapies such as cells, genes, and nucleic acids receive high attention, with more than 60 pieces. Data shows that the investment and financing rounds in China's primary market are mainly concentrated in A Previously, there was an overall trend towards earlier financing rounds. The secondary market trends in Hong Kong, Mainland China, and the US were consistent, with valuations pulling back, which also affected the financing situation in the primary market to a certain extent.   Medical device market   of   The total amount of investment and financing is then 2020 Year-over-year leap and 2021 Peaking at the end of the year, 2023 H1 Gradually slowing down. Looking at sub-sectors, robotics, surgical instruments, and artificial organs rank among the top three in terms of total investment and financing. Similar to the biopharmaceutical sector, investment and financing events in the medical device sector are also mainly concentrated in A In the earlier stages, the proportion was on average greater than 70% While the secondary market valuations in both the mainland and Hong Kong have corrected, the primary market has returned to rationality. 2018 till 2023 H1 Hong Kong stocks 18A And the fifth set listed on the Sci-tech Innovation Board 15 Home medical device company, listed on the Hong Kong stock market 18A exist 14 Enterprises go public, Sci-tech Innovation Board No. 5 wrapped 1 Enterprises go public.   Mao Hua pointed out,   Affected by macro factors such as the Fed's interest rate hikes and the fading of "epidemic-driven" effects, coupled with domestic industry factors such as severe homogenization in the biotechnology field and still weak self-sustaining capabilities, the primary and secondary investment and financing markets for biotechnology in China are in 2022 The callback starts at the beginning of the year. 2023 H1 The industry has reached a peak, with both volume and value declining severely, but it has also contributed to the rational development of the industry.     In the future, innovative biotech companies will have more diverse listing options on the secondary market (Hong Kong stock market 18A The secondary market, including the Sci-tech Innovation Board (STAR Market), Growth Enterprise Market (GEM), and Beijing Stock Exchange (BSE), places more emphasis on and anticipates a company's commercialization capabilities and self-sustaining financing. Overseas expansion capabilities and cooperation with large enterprises are considered key project strengths. Under the chairmanship of Liu Hui, founder of Huize Finance, Mao Hua was joined by Sun Ming, Assistant Vice President of the Hong Kong Exchanges, and the Investment Banking Business Department of Lingfeng Capital Limited CEO Li Dequan, Shenwan Hongyuan (Hong Kong) Managing Director Xie Jinghui, Ernst & Young's China Market Director Li Zhiguang, Partner Zhu Honghe of Beijing Jingtian Gongcheng Law Firm, Partner Chen Haotian of Beijing Tongshang Law Firm, Partner Huang Chengyang of Morgan Lewis Law Firm, Partner Ma Junning of Luo Xiaxin Law Firm, and guest Xia Xia from Beijing Sanliyihé Ze Biotechnology Co., Ltd. gathered together to discuss the current situation and development opportunities of biotech companies in the Hong Kong capital market.   About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences. Leveraging the global think tank resources of Frost & Sullivan and its cross-industry business development platform in Greater China, the Healthcare Practice has unique core advantages in healthcare industry investment and financing services.   Frost & Sullivan Healthcare   Has a wide range of corporate clients in China, and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to offer one-stop solutions for enterprises in specialized sub-sectors such as pharmaceuticals and medical devices. Our services have received wide attention from investors. 2023 Frost & Sullivan's New Investment Conference

New Drug Launch and Commercialization Forum 2023 year 7 month 13 - 14 RIO, by Yingfu Chuansi Infotrans The hosted 'Innovative Drugs Launch and Commercialization Forum' was successfully held in Shanghai. The forum aimed to explore the opportunities and challenges faced by the launch and commercialization of innovative drugs. Guests from biotech companies, pharmaceutical enterprises, industry associations, consulting firms, third-party commercialization platforms, investment institutions, law firms, etc., shared industry insights from their respective perspectives. The content covered topics such as the market environment and policies of innovative drugs, medical insurance negotiations, commercial health insurance, commercial layout, market promotion strategies, innovative drugs' full life cycle management plans, third-party platform empowerment of commercialization, drug exports, commercialization channels, and commercial intellectual property protection. It built a platform for industry communication and cooperation to help enhance China's commercialization capabilities of innovative drugs.       Frost & Sullivan Frost & Sullivan As one of the forum's co-partners, Mao Hua, Partner and Managing Director of Frost & Sullivan Greater China, was invited to attend the event and delivered a speech on 'The Lifecycle Management Solution for Innovative Drugs'.   From left: affairs of the central government of BeiGene & Director of Policy, Mr. Honghao Shi, Senior Partner at Liu Shen Law Firm, Mr. Zongliang Zou   Liangsheng Investment Partner Li Jia, Youdit Biotechnology UltraDx founder, CEO Dong Zengjun, Partner and Managing Director of Frost & Sullivan Greater China Region, Mao Hua     Partner and Managing Director of Frost & Sullivan Greater China Region fattening Mao Hua first shared the background of the development of the innovative drug industry. He pointed out that overall, the scale of China's pharmaceutical market has ranked second globally. Although there have been impacts from multiple rounds of price cuts in centralized procurement and medical insurance, considering favorable factors such as increasing disease burden, population aging, enhanced payment capabilities and diversification of payment methods, as well as an increase in innovative varieties, China's pharmaceutical market is still expected to continue growing in the future. Currently, monoclonal antibodies, bispecific antibodies, ADC Large molecule drugs such as antibody fusion proteins have become an important area of new drug research and development. Clinical trials of innovative therapies represented by cell therapy, gene therapy, nucleic acid drugs, and oncolytic viruses continue to increase. Recently 3 The annual proportion has reached 4.1% .   In terms of sub-sectors, given that both globally and in China, chronic disease burdens are on the rise year by year,    Digestive and metabolic drugs, as well as anti-tumor drugs, occupy an important position in both global and Chinese markets.   Mao Hua stated that the entire lifecycle of a drug is dynamic and evolving. To achieve successful lifecycle management of innovative drugs, pharmaceutical companies need to focus on three winning strategies, namely: 1 )   Efficient market access & Full-cycle price management; 2 Precise marketing strategies; 3 ) Innovate business models.     "Efficient market access and full-cycle price management will be the foundation of innovative drug lifecycle management. Precise marketing strategies can maximize the value of innovative drug products, reach patients more quickly. Business model innovation includes accelerating organizational structure optimization, retail format transformation, and digital marketing," Mao Hua further explained. About Frost & Sullivan's Healthcare Practice The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences. Leveraging Frost & Sullivan's global think tank resources and cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in healthcare industry investment and financing services. Frost & Sullivan Healthcare has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to provide one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors. 2023 Frost & Sullivan's New Investment Conference        

EY ESG Research and Study Set Sail   Pay attention to the 'dual carbon' goal and achieve high-quality and sustainable development. With ESG As the concept gains greater popularity and reaches a wider range of people, investors and enterprises are paying more attention to it as a focal point for capital allocation, strategic planning, and investment decisions. All sectors of society are also actively involved. ESG practice. Recently, EY, with the theme of "Ignite Dreams, Empower the Future", ESG The research and study program at the EY Innovation Center has been officially launched. As a proactive actor in further serving national strategies and popularizing sustainable development concepts and practices, EY hopes to discover more young students who are committed to promoting sustainable development goals, serving the needs of the country and society, and contributing to carbon peak and carbon neutrality.       Frost & Sullivan Frost & Sullivan Wang Chenhui, Partner-in-Chief and Executive Vice President of Frost & Sullivan Greater China, Co-founder and President of LeadLeo, was invited to attend the event. From an industry research perspective,   Combined with specific cases, we shared how to explore industry development trends and risks, thereby helping ESG development.   This event was hosted by Gao Xiang, Senior Manager at EY Research Institute, with Wang Chenhui and   Guo Yi, Chairman of EY Research Institute    EY Hua Zhong Region Audit Services Associate Partner Tang Zhehui, EY Research Institute Senior Manager Wang Shengju, EY Greater China Region ESG Office Manager Wang Ning,    Zhang Li, Director of the Communication Center at the Shanghai Yangtze River Delta Business Innovation Research Institute and Chief Executive Officer of the ZhiXin Project    GaoDun's Education Innovation Product Director Fan Yixin and other guests,    Those who are interested in in-depth learning offline or online ESG Thousands of students from various fields of expertise jointly explore hot topics and share cutting-edge insights.   Managing Partner and Executive Vice President of Frost & Sullivan Greater China, Co-founder and President of LeadLeo Wang Chenhui   ESG Practice is highly challenging yet full of opportunities. Starting from the perspective of industry research and combining specific cases, Wang Chenhui shared with everyone how to explore industry development trends and risks, thereby contributing ESG development. He pointed out, 2002 Year-end 2020 year, China N100 enterprise ESG Report disclosure rate from 18% Grew to 80% , more and more enterprises are actively practicing ESG concept    Responding to the dual carbon goal    accelerate ESG Information disclosure    strengthen ESG Capacity building    Promote layout ESG investment. As consulting firms, Frost & Sullivan and LeadLeo believe that the application of industry research is beneficial for solving ESG Some issues in development, such as research on industry development trends, can help solve the problem of unclear indicators, while industry risk identification and assessment can assist in addressing the pain point of insufficient risk awareness. Source: Frost & Sullivan analysis, LeadLeo research institute   Wang Chenhui introduced that Frost & Sullivan provides for enterprises according to their sustainable development needs ESG Strategic consulting, ESG Report writing, ESG Brand consulting, ESG Human resource consulting and other services    utilize ESG Frost & Sullivan empowers enterprise value transformation in all aspects of business value, achieving sustainable growth. He stated that the key to Frost & Sullivan's service to enterprises is to help them further deepen their leadership position in niche areas. By telling better brand stories, they assist enterprises in jointly achieving a transformation from scale to quality, exploring a path for integrated development of innovation chain, capital chain, and industrial chain. In the future, Frost & Sullivan will always uphold the principles of professionalism, rigor, objectivity, and fairness, persist in serving the high-quality development of the country, and support more enterprises towards sustainable development.   LeadLeo has been deeply involved in enterprise research for many years. With rich experience in content production, platform operation and knowledge management, it has built a leading intelligent enterprise research platform ——“BrainPower” in the industry. Knowlengine ™”Knowledge Management and Research Assistance KaaS The system and related key capability base systems and platforms help drive the development of the digital industry, digital technology innovation, digital ecosystem governance, and the cultivation of digital literacy. Over the years, Frost & Sullivan and LeadLeo have actively supported college students' employment and 'mass entrepreneurship and innovation', cultivating and delivering a large number of professionals with research literacy to society, contributing to the sustainable development of industries and the construction of 'Digital China'.     In the face of a once-in-a-century transformation, Frost & Sullivan and LeadLeo, together with EY, will continue to deliver: ESG The concept is to fully leverage our professional strengths, provide high-end and quality services, empower young talents in various fields, and strive to contribute more wisdom and strength to the green transformation and sustainable development of the economy and society. We aim to promote Chinese-style modernization and achieve high-quality development by building momentum and enhancing capabilities.     2023 Frost & Sullivan's New Investment Conference    

The persistently high temperatures have suddenly made power generation during the peak summer season a hot topic of public discussion. 7 month 6 On the same day, Beijing issued its first high-temperature red alert signal for this summer, while power consumption loads in Jiangsu and Zhejiang provinces both exceeded their limits 1 1000 million kilowatts, earlier than last year 19 sky, 8 sky. Research reports show, 2023 year 4 In recent years, the power generation volume in Yunnan Province has been at a relatively low level. If the power supply situation in Yunnan continues to be tight, what impacts will it have on Guangdong's power supply and spot electricity market prices? The industry expects 2023 During the peak summer season of 2023, the power supply and demand situation in East China, Central China, and South China is relatively tight. Based on this forecast of the power consumption situation, what are the main factors that are causing disruptions to the power supply?   Frost & Sullivan Frost & Sullivan Xu Biao, Executive Director of Frost & Sullivan's Greater China Region (hereinafter referred to as 'Frost & Sullivan'), was interviewed by 'Cailianlian' to discuss power supply security.   * Click "Read the Original Article" at the end of the text to read the full report. Cailian Finance & Economics News Agency Q Cailian News Agency Reporter: According to data released by the China Electricity Council, 1 - 5 Monthly hydropower generation of power plants above designated size across the country 3523 1000 million kWh, a year-on-year decrease 19.2% The top three provinces in terms of hydropower generation nationwide are Sichuan, Yunnan, and Hubei, with their combined hydropower generation accounting for 62.8% , with growth rates of -1.5% , -20.8% and -38.4% What's your take on the decline in related data? 1 - 5 The decline in monthly hydropower generation is partly due to the reduced rainfall and less water inflow from major river basins such as the Yangtze and Yellow Rivers this year, resulting in a year-on-year decrease in the cumulative average utilization hours of hydropower generation equipment. 294 hours. On the other hand, it's also due to last year 1 - 5 The main river basins such as the Yangtze River and the Yellow River received relatively abundant rainfall, resulting in a relatively large amount of hydropower generation. Comparing this year with last year 1 - 5 Monthly hydropower generation has seen a significant decline. Q Cailian News Agency Reporter: Cross-regional coordination and mutual assistance in the power market have become one of the methods to ensure power supply. Taking 'Cloud Power Transmission to Guangdong' as an example, Yunnan Province contributes nearly 70% of the power received outside Guangdong Province ( 2022 Annual data). Research reports show, 2023 year 4 In recent years, Yunnan Province's power generation has been at a relatively low level. It was only after reducing the consumption within the province and lowering the amount of electricity sent out that the power supply and demand were balanced. 6 - 8 The month of January is a seasonal peak in electricity consumption in Guangdong Province, which will lead to a sharp increase in the demand for power transmission from Yunnan. If Yunnan's power supply continues to be tight in the future, what impacts will it have on Guangdong's power supply and spot electricity market prices? If the water inflow during the flood season does not increase as expected and the power generation from hydropower in Yunnan does not increase sufficiently, Guangdong's power supply will still face considerable pressure. In the short term, the tight power supply situation in Guangdong Province still needs to be addressed through measures such as increasing inter-provincial mutual assistance within the Southern Power Grid, coordinating with the State Grid for full support, and increasing the supply of thermal coal and gas within Yunnan Province to regulate the operation of thermal power units. In the long run, expanding the installed capacity and power supply within Guangdong Province, especially the supply capabilities of wind and photovoltaic power generation, also requires accelerating progress. The price of electricity spot market is mainly related to the net load curve. The net load curve is the total load curve (including domestic and imported electricity, which is relatively regular) minus imported electricity, and it mainly depends on the curve of imported electricity. Currently, for the power transmitted from Yunnan to Guangdong, medium- and long-term agreements are still signed. If the power supply from Yunnan to Guangdong is insufficient, it will drive up the price of electricity spot market. Q Cailian News Agency Reporter: Industry estimates 2023 During the peak summer season of 2023, the power supply and demand situation in East China, Central China, and the South is relatively tight. Based on this forecast of electricity consumption trends, which factors do you believe are mainly causing disruptions to power supply? Multiple factors such as macroeconomic growth, rapid recovery of industrial production, and high temperatures have led to increased power demand, putting considerable pressure on power supply. In terms of power supply, uncertainties exist in precipitation and the stability of wind and solar resources, which affect the utilization hours of major power sources such as hydropower, wind power, and photovoltaic power. In addition, power generation enterprises also increase the uncertainty of power production and supply in terms of operational efficiency and equipment risks. * This interview is published on the CCB Client.   Reporter for Lu Tingting    Original title: 'Power Market Welcomes High Temperatures "Baking" Tests: Guangdong Emphasizes Demand-Side Response and Cross-Regional Adjustment to Ensure Supply | Directly Addressing Power Supply Guarantee    . 2023 Frost & Sullivan's New Investment Conference    

2023 year 6 month 29 - 30 On the day, the 9th China Biomedical Innovation Cooperation Conference BIO-PHARM 2023 ) and Hua Medicine Ranking 2023 The China Biopharmaceutical Industry Value List Awards Ceremony was held at the Kempinski Hotel in Suzhou Jinji Lake.   Huayi Research Institute has selected and discovered innovative enterprises in the biomedical field that truly have industry influence and growth potential, and is dedicated to creating the Huayi List. 2023 China's Biomedical Industry Value List aims to promote industrial innovation and development. Hua Medicine Ranking 2023 The China Biopharmaceutical Industry Value List includes antibody drugs, innovative therapies, biotechnology, CRO company , CDMO company The selection of six series of pharmaceutical innovation partners is based on the enterprise quantitative growth evaluation criteria refined over many years by the Huayi Research Institute. It combines basic processes such as questionnaire surveys, corporate interviews, data analysis, and verification. The evaluation panel standardizes and quantifies the dynamic data of shortlisted enterprises through processing, thereby selecting the companies with significant industry value for the year and forming an objective third-party evaluation list in the industry. Frost & Sullivan Frost & Sullivan Frost & Sullivan, the abbreviation for 'Frost & Sullivan' Evaluation of Pharmaceutical R&D Partnerships, aims to recognize companies that have made outstanding contributions and performed excellently in the field of biomedicine.   Frost & Sullivan integrates globally. 62 years of consulting experience, 25 Over the years, we have wholeheartedly served the booming Chinese market, using a global perspective to help clients accelerate their business growth and achieve benchmark positions in industry growth, innovation, and leadership. The Greater Health Industry is one of the core areas of focus for Frost & Sullivan's research.   The Healthcare Business Unit of Frost & Sullivan has professional analytical capabilities and rich project experience in the life sciences field. Leveraging the global think tank resources of Frost & Sullivan and its cross-industry business development platform in Greater China, the Healthcare Business Unit has unique core advantages in healthcare industry investment and financing services.   Frost & Sullivan's Healthcare practice has a wide base of corporate clients in China, and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated.    Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, and strategic consulting. We also cooperate with well-known domestic and international information platforms and investment and financing institutions, offering one-stop solutions in specialized fields such as pharmaceuticals and medical devices. Our services have received widespread attention from investors. As one of the important service institutions for Hong Kong-listed companies, industry consultants play a crucial role in the successful listing and financing of enterprises in the biotechnology sector, which has a high technical threshold. As an industry consultant, Frost & Sullivan is deeply involved in both early-stage investment and post-listing activities in the healthcare sector, making it the top choice for healthcare companies seeking to list in Hong Kong.   According to the information disclosed by the Hong Kong Exchanges, 2015 till 2022 In FY, Frost & Sullivan went on to maintain its market-leading position in the Hong Kong-listed consultancy segment for consecutive years. 8 Maintaining a leading position year after year, we have helped the majority of listed companies in the market to remain at the top in their respective segments. We are an absolute leader in serving healthcare companies seeking to go public in Hong Kong.   2019 year A Since the launch of the Sci-tech Innovation Board, Frost & Sullivan's share has reached 72.3% In addition, due to the high demand for business and industry analysis in the fifth set of issues, industry advisory services were systematically adopted. Frost & Sullivan's share of clients served under the fifth set of standards has reached 83.8% (Number of projects).   since 2018 Since the beginning of this year, Frost & Sullivan has successively released    "The ECMO unit Industry Status quo and Development Trend Report    ,    "China Rare Disease Industry Trend Observation Report",    Medical Devices CRO company Industry Status quo and Development Trends Report    "Report on the Current Situation and Development Trends of the Improved New Drug Industry",    "Research Report on the Current Development Status and Future Trends of the Ophthalmic Drug Market",    "White Paper on the Current Industry Situation and Future Development of China's Assisted Reproduction Industry",    Medical Intelligence Industry White Paper    We have contributed to the research and promotion of various sub-industries through multiple white papers, providing important reference perspectives for market investors.   2022 year 9 In January, the first New Investment Expo and the 16th Frost & Sullivan Global Growth, Innovation and Leadership Summit BioTech Investment Forum were successfully held in Shanghai. At the event, the Frost & Sullivan Growth, Innovation and Leadership Awards in the biotech sector were announced, along with the official release of CDMO company Industry Current Situation and Development Trend Research Report". Numerous biotech companies, investment institutions, and professional service providers gathered at the event to focus on new trends in biotech investment and financing, participating in the forum on-site. 180+ People, watching online 2,000+ person.   2023 year 9 month 28 On the 1st, the 2nd New Investment Expo and the 17th Frost & Sullivan Global Growth, Innovation and Leadership Summit Biotechnology Investment Forum will be held again in Shanghai. Frost & Sullivan will continue to leverage its industrial value by building a professional cooperation platform through this forum, stimulating innovation vitality in the biotechnology industry, promoting investment and financing cooperation and resource sharing, and jointly advancing the sustainable development of the pharmaceutical innovation industry with industry partners.   The registration channel for the conference has been officially opened.   Scan the QR code to register for the event      Frost & Sullivan is considered one of the most powerful, professional, and influential industry research institutions in the sector. We aim to work with more biotech companies to gain insights into industry trends, seize development opportunities, jointly promote innovation and upgrading of China's large health industry, and create a healthy future.

To address changes in the policy and operational environment of the pharmaceutical industry, as well as to implement the development requirements put forward by the Ministry of Industry and Information Technology, 2019 Huaren Shuanghe has formulated the 'Huaren Shuanghe's 14th Five-Year Product Development Strategy', aiming to complete the company's strategic transformation towards innovation and realize the vision of 'becoming a world-class pharmaceutical enterprise trusted by the public and driven by innovation'.   7 month 4 Today, Frost & Sullivan Frost & Sullivan Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China Region, was invited to attend the Mid-Term Planning Seminar for China Resources Shuanghe's 14th Five-Year Plan. He also presented a report on the extension development consulting report for the mid-term strategic review of China Resources Shuanghe's 14th Five-Year Plan, contributing to the strategic transformation of Shuanghe. Partner and Managing Director of Frost & Sullivan Greater China Region fattening   Under the guidance of the principles of leading-edge, similarity and scientificity, the Frost & Sullivan healthcare team has selected top global pharmaceutical companies and leading domestic pharmaceutical companies for benchmarking analysis.     Through benchmark analysis, it can be found that domestic and international pharmaceutical companies have all gone through different stages of development from scale expansion to innovation transformation, with external expansion always being an important means for achieving strategic goals at different stages.      Mao Hua stated that, in light of the company's current situation and benchmarking insights, China Resources Shuanghe should take measures to continuously enhance its project sourcing capabilities, improve organizational structure, and optimize collaboration mechanisms.   About Frost & Sullivan's Healthcare Practice   The Healthcare Practice of Frost & Sullivan has professional analytical capabilities and extensive project experience in the life sciences. Leveraging Frost & Sullivan's global think tank resources and the cross-industry business development platform in Greater China, Frost & Sullivan Healthcare has unique core advantages in healthcare industry investment and financing services. Frost & Sullivan Healthcare has a wide range of corporate clients in China and in the past 20 In the year, a vast customer network was established, and a wealth of project experience in various medical sub-fields was accumulated. Project types include Knowledge Center projects (in-depth content, promotional activities). Pre-IPO financing project DCF model Valuation, Business Plan Services), IPO listing We provide listed projects (industry consulting, clinical audits, fundraising and investment writing), market research, market value management, strategic consulting, etc. We also cooperate with well-known domestic and international information platforms and investment and financing institutions to provide one-stop solutions for enterprises in specialized fields such as pharmaceuticals and medical devices. Our services have received wide attention from investors. 2023 Frost & Sullivan's New Investment Conference